Dropbox (NASDAQ:DBX) CEO Andrew Houston Sells 383,800 Shares of Company Stock

Dropbox, Inc. (NASDAQ:DBX) CEO Andrew Houston sold 383,800 shares of Dropbox stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $35.81, for a total value of $13,743,878.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Houston also recently made the following trade(s):

• On Monday, October 12th, Andrew Houston sold 29,500 shares of Dropbox stock. The stock was sold at an average price of $35.09, for a total value of $1,035,155.00.
• On Thursday, October 1st, Andrew Houston sold 354,300 shares of Dropbox stock. The shares were sold at an average price of $34.01, for a total value of $12,049,743.00.
• On Thursday, September 10th, Andrew Houston sold 383,800 shares of Dropbox stock. The stock was sold at an average price of $35.02, for a total transaction of $13,440,676.00.

Dropbox Trading Up 3.3%

Dropbox stock opened at $36.10 on Thursday. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.45 and a beta of 0.62. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $38.22. The company’s 50-day moving average price is $35.29 and its two-hundred day moving average price is $29.16.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. The company had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts expect that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Dropbox in a research report on Thursday, September 3rd. Citigroup downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the company from $33.00 to $29.00 in a research note on Thursday, September 24th. William Blair upgraded Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Bank of America reissued an “underperform” rating on shares of Dropbox in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded Dropbox from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $31.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its stake in shares of Dropbox by 12.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after buying an additional 960,109 shares during the period. Wedge Capital Management L L P NC increased its position in Dropbox by 26.4% in the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock worth $82,552,000 after purchasing an additional 627,111 shares during the period. Pacer Advisors Inc. lifted its position in Dropbox by 2.8% during the 1st quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock valued at $46,530,000 after purchasing an additional 55,921 shares during the period. KBC Group NV grew its position in shares of Dropbox by 12.6% during the 1st quarter. KBC Group NV now owns 944,829 shares of the company’s stock worth $21,466,000 after buying an additional 105,876 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Dropbox by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 390,386 shares of the company’s stock worth $8,870,000 after acquiring an additional 15,027 shares during the period. Institutional investors own 94.84% of the company’s stock.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.